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Crdentia Announces 2008 First Quarter Results
Date:5/21/2008

sic and diluted;

Loss from continuing operations $(0.05) $(0.39)

Income from discontinued operations - 0.01

Basic and diluted loss per common share $(0.05) $(0.38)

Weighted average number of common shares

outstanding 47,572,548 17,365,298

Crdentia Corp.

Unaudited Condensed Consolidated Balance Sheets

March 31, December 31,

2008 2007

Current assets:

Cash and cash equivalents $459,246 $94,470

Accounts receivable, net of

allowance for doubtful accounts

of $995,000 and $961,160, respectively 6,849,483 6,081,131

Other current assets 1,668,977 1,748,315

Total current assets 8,977,706 7,923,916

Property and equipment, net 465,079 344,212

Goodwill 15,063,047 15,063,047

Intangible assets, net 1,166,594 1,272,164

Other assets 692,045 243,969

Total assets $26,364,471 $24,847,308

Current liabilities:

Revolving lines of credit $4,849,818 $4,355,338

Accounts payable and accrued expenses 4,078,912 3,627,305

Accrued employee compensation and benefits 994,479 880,718

Current portion of notes payable including

amounts due to significant stockholders

of $925,282 at March 31, 2008 and

$935,425 at December 31, 2008 1,234,373 1,534,333

Notes payable to
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SOURCE Crdentia Corp.
Copyright©2008 PR Newswire.
All rights reserved

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